Array BioPharma Inc. (NASDAQ:ARRY) CEO Ron Squarer Sells 819,671 Shares

Array BioPharma Inc. (NASDAQ:ARRY) CEO Ron Squarer sold 819,671 shares of Array BioPharma stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $10.86, for a total transaction of $8,901,627.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Array BioPharma Inc. (ARRY) traded down $0.13 during trading on Thursday, reaching $13.85. 1,079,391 shares of the company’s stock were exchanged, compared to its average volume of 4,057,614. The firm has a market capitalization of $2,810.00, a P/E ratio of -18.72 and a beta of 1.91. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54. Array BioPharma Inc. has a 1 year low of $6.73 and a 1 year high of $14.13.

Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, hitting analysts’ consensus estimates of ($0.22). The firm had revenue of $29.75 million during the quarter, compared to the consensus estimate of $33.74 million. Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The firm’s revenue was down 24.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) earnings per share. research analysts predict that Array BioPharma Inc. will post -0.99 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. boosted its holdings in Array BioPharma by 4.6% in the second quarter. Marshall Wace North America L.P. now owns 677,109 shares of the biopharmaceutical company’s stock worth $5,417,000 after purchasing an additional 29,543 shares during the period. Northern Trust Corp boosted its holdings in Array BioPharma by 8.5% in the second quarter. Northern Trust Corp now owns 2,130,493 shares of the biopharmaceutical company’s stock worth $17,832,000 after purchasing an additional 166,031 shares during the period. New York State Common Retirement Fund boosted its holdings in Array BioPharma by 6.4% in the second quarter. New York State Common Retirement Fund now owns 195,300 shares of the biopharmaceutical company’s stock worth $1,635,000 after purchasing an additional 11,699 shares during the period. Nationwide Fund Advisors boosted its holdings in Array BioPharma by 12.8% in the second quarter. Nationwide Fund Advisors now owns 125,993 shares of the biopharmaceutical company’s stock worth $1,055,000 after purchasing an additional 14,254 shares during the period. Finally, BlackRock Inc. boosted its holdings in Array BioPharma by 1.0% in the second quarter. BlackRock Inc. now owns 12,994,700 shares of the biopharmaceutical company’s stock worth $108,765,000 after purchasing an additional 125,563 shares during the period. 98.13% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Array BioPharma from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Cantor Fitzgerald set a $15.00 price target on shares of Array BioPharma and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Jefferies Group raised their price target on shares of Array BioPharma to $13.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. BidaskClub raised shares of Array BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, SunTrust Banks reissued a “buy” rating and set a $16.00 price target on shares of Array BioPharma in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Array BioPharma has an average rating of “Buy” and a consensus target price of $14.10.

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Array BioPharma Company Profile

Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib (partnered with AstraZeneca, PLC).

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